jsinjar3189 jsinjar3189

Today at 1:51 AM
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An investment offers $5,200 per year, with the first payment occurring one year from now. The required return is 7 percent. a. What would the value be today if the payments occurred for 20 years

Answer :

andromache andromache

Today at 1:56 AM

Answer:

the present value of an annuity is $55,088.87

Explanation:

The computation of the value today is given below:

Present value of annuity is

= Annuity × [1 - (1+interest rate)^-time period] ÷ rate

= $5,200 × [1 - (1.07)^-20] ÷ 0.07

= $5,200 × 10.59401425

= $55,088.87

hence, the present value of an annuity is $55,088.87

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